The global disposable lead wires market is expected to reach USD 999.4 million by 2025, according to a new study by Grand View Research, Inc. Rising incidence of hospital-acquired infections (HAIs) is the key driving factor for the market growth.
The reusable lead wires are the major cause of the hospital-acquired bloodstream infections. Use of disposable lead wires eliminates the risk of cross-contamination. In addition, it reduces the cost associated with the HAIs.
The aforementioned benefits are presumed to boost the usage rates over the forecast period. Moreover, rising number of government initiatives to promote the incorporation of patient safety procedures in hospital settings is presumed to drive the overall market growth during the forecast period.
Furthermore, an introduction of technologically advanced disposable LWs is anticipated to drive the market growth over the forecast period.
For instance, advanced disposable ECG-LWs with patented push-button design have superior capabilities in reducing alarms that are created by a failure of leads and absence of telemetry. These above-mentioned factors are anticipated to fuel the market growth.
Further Key Findings from the Study Suggest:
- Thermoplastic Elastomer (TPE) is expected to witness lucrative growth over the forecast period, owing to the rising adoption to reduce infection rates in healthcare facilities
- The advantages of TPE over other materials like PVC and rubber latex such as providing better flexibility, ease of processing enables high performance in a variety of application
- The demand of the 5-lead machine type is expected to increase in coming years owing to the surge in demand for cost effective equipment in critical care settings
- Ambulatory care centers are presumed to witness an exponential growth throughout the forecast period. This can be attributed to the rising significance of disposable LWs in patient monitoring
- North America accounted for the largest share of disposable lead wires market owing to the rising mortality rates pertaining to heart diseases
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- Asia Pacific anticipated to witness lucrative growth as a result of unmet patient needs, rising healthcare expenditure and establishment by major global players is expected to drive segment growth during the forecast period
- The key players are involved in strategic alliances to sustain the competition, such as merger & acquisitions, strategic partnerships, and geographic expansion
- For instance, in February 2016, the company announced acquisition of Bellco from private equity firm Charme Capital Partners in a probe to business expansion